Notable Analyst Rating Changes 11/13: LVS, PTR, STZ Upgraded; GA, JCP, CTCM Downgraded

November 13, 2008 9:42 AM EST

UPGRADES:
Banc of America upgrades Las Vegas Sands (NYSE: LVS) from Sell to Neutral.

Citi upgrades PetroChina (NYSE: PTR) from Sell to Hold.

UBS upgrades Constellation Brands (NYSE: STZ) from Neutral to Buy, citing valuation after 52% slide in the last two months. UBS lowered their price target from $24 to $17.

For daily real-time Upgrades go to http://www.streetinsider.com/Upgrades

DOWNGRADES:
Piper Jaffray & Co. downgrades Giant Interactive (NYSE: GA) from Buy to Neutral. Price target lowered from $11 to $6.

Morgan Stanley downgrades JC Penney (NYSE: JCP) from Overweight to Equal-weight

J.P. Morgan downgrades CTC Media (Nasdaq: CTCM) from Overweight to Neutral.

For daily real-time Downgrades go to http://www.streetinsider.com/Downgrades

NEW COVERAGE:
Goldman Sachs initiates coverage on Garmin Ltd. (Nasdaq: GRMN) with a Neutral rating.

Jefferies initiates American Express (NYSE: AXP) with an Underperform and a $17 target, citing higher funding costs and deteriorating credit performance.

J.P. Morgan initiates coverage on Atheros (Nasdaq: ATHR) with a Neutral rating.

For daily real-time New Coverage go to http://www.streetinsider.com/New+Coverage


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Stocks Mentioned

ATHR 28.05

+0.72 +2.63%
Volume: 1,344,629
Track ATHR

AXP 40.05

+0.37 +0.93%
Volume: 13,383,626
Track AXP

CTCM 17.40

+0.07 +0.40%
Volume: 226,783
Track CTCM

GA 7.06

-0.02 -0.28%
Volume: 428,193
Track GA

GRMN 29.51

+0.68 +2.36%
Volume: 3,083,422
Track GRMN

JCP 29.87

-1.28 -4.11%
Volume: 7,760,027
Track JCP

LVS 17.63

+0.66 +3.89%
Volume: 39,794,680
Track LVS

PTR 130.99

-1.31 -0.99%
Volume: 384,981
Track PTR

STZ 16.67

+0.25 +1.52%
Volume: 1,861,584
Track STZ


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